It just plays these three chords throughout the whole song

play all strings                          hit the bottom string but mute it
        Am                C                           G
    |---0---------0---------------=------------
    |---1---------1---------------0------------
    |---2---------0---------------0------------
    |---2---------0---------------0------------
    |---0---------2---------------2------------
    |---0---------=---------------3------------
                   hit the top string
                       but mute it

Its played like this

Am                C                    Am              G
| ||| |||||         || ||| |||||        | ||| |||||       || ||| |||||
and repeat
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